Led by Failup Ventures and Uber Technologies, with participation from Halogen Ventures, Pulse Fund, LACI Impact Fund, and others, this investment will support deployments across seven US cities in 2024. These include Boston, Los Angeles, Detroit, Jersey City, and San Francisco. This funding will also aid Uber’s goal of helping rideshare drivers transition to electric vehicles.
EV sales in the US have quadrupled over the past four years, with over four million EVs on the road and 170,000 public chargers available. However, the US will need 28 million charging ports by 2030 to support 30 million EV drivers, as predicted by the Office of Energy Efficiency and Renewable Energy. New legislation in states like California and New York mandates rideshare drivers go electric by 2030, highlighting the need for convenient curbside charging.
Itselectric's Level-2 charging posts connect to the spare electrical supply from adjacent buildings, requiring no utility permits. This setup incurs no cost to property owners or cities, and Itselectric shares revenue earned at each charger with property owners. Their UL-certified detachable cable EV charger reflects a commitment to customer experience, safety, and quality.
"Itselectric’s solution addresses infrastructural barriers to urban EV charging," said Topias Soininen of Failup Ventures. "Their scalable chargers will promote nationwide EV adoption."
